Members earn $2 million with bonus dividend
SOUTH OGDEN, UT (December 13, 2019) — Goldenwest Credit Union released information about their 2019 Bonus Dividend, stating they anticipate their members will collectively earn more than $2 million on December 31st with the year-end earnings. The Credit Union’s Board of Directors approved the dividend at their recent November Board Meeting. Since 2004, the Bonus Dividend program as topped for than $15 million in earnings for Goldenwest members.
“As a Board of Directors, we have placed great importance on enriching the Credit Union’s value for our membership,” said Bill Hart, Chairman of the Board. “Our governance philosophy and strategic planning have permitted us to declare a record-breaking Dividend while sufficiently protecting the assets of the Credit Union and planning for future growth.”
The 2019 Bonus Dividend is a one-time dividend of 4.40% Annual Percentage Yield (APY) that will be paid over and above the stated monthly dividend of 0.10% APY. Members will earn 4.50% APY for the month of December on primary shares, secondary shares, Christmas Club shares, and IRA shares. Dividend earning amounts will vary by member based on the average daily balance in their individual accounts over the course of the year.
“The Goldenwest Bonus Dividend is the quintessential example of what being a member of a not-for-profit financial cooperative is all about,” said Kerry Wahlen, President/CEO. “With the leadership and support of the Board, we have built our program to provide an additional means by which all member-owners share in the success of their Credit Union.”
Wahlen stated the Bonus Dividend is one of the many way Goldenwest is accomplishing the Credit Union’s initiative of providing more benefits to loyal members.
“In 2019, we enhanced our President’s Club program to provide higher earnings up to 0.25% on Certificates,” continued Wahlen. “Plus, we introduced Reward Yourself Checking giving members the opportunity to receive a 0.25% discount on auto loans and earn bonus Extra Awards points Visa Credit and Debit card purchases.”
The Credit Union also introduced online account openings in 2019. New members can request to join Goldenwest, and existing members can add new savings accounts, Certificates, and checking accounts at gwcu.org/accounts.
About Goldenwest Credit Union
Founded in 1936, Ogden-based Goldenwest Credit Union holds $2.5 billion in assets, serves 160,000 members and operates 44 branches across Utah. Goldenwest Credit Union owns and operates multiple financial services providers, including: USU Credit Union, a division of Goldenwest; and, Goldenwest Insurance Services.